CHURCHILL MANAGEMENT Corp Trims Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

CHURCHILL MANAGEMENT Corp lowered its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 11.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,443 shares of the apparel retailer’s stock after selling 1,764 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Lululemon Athletica were worth $5,252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. RFG Advisory LLC increased its position in shares of Lululemon Athletica by 6.0% during the 1st quarter. RFG Advisory LLC now owns 1,547 shares of the apparel retailer’s stock valued at $604,000 after purchasing an additional 87 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in Lululemon Athletica by 66.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 7,316 shares of the apparel retailer’s stock worth $2,858,000 after acquiring an additional 2,920 shares in the last quarter. Fulton Bank N.A. increased its holdings in Lululemon Athletica by 6.7% in the 1st quarter. Fulton Bank N.A. now owns 4,017 shares of the apparel retailer’s stock worth $1,569,000 after acquiring an additional 253 shares in the last quarter. Stableford Capital II LLC purchased a new stake in Lululemon Athletica in the 1st quarter worth approximately $456,000. Finally, Montecito Bank & Trust increased its holdings in Lululemon Athletica by 145.2% in the 1st quarter. Montecito Bank & Trust now owns 1,189 shares of the apparel retailer’s stock worth $464,000 after acquiring an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 0.3 %

Shares of LULU opened at $311.82 on Friday. The firm has a market capitalization of $38.98 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.55 and a beta of 1.27. Lululemon Athletica Inc. has a 12-month low of $293.03 and a 12-month high of $516.39. The firm has a fifty day moving average price of $330.77 and a 200-day moving average price of $413.72.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 earnings per share. Analysts predict that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica announced that its board has authorized a stock repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LULU shares. Telsey Advisory Group reduced their target price on shares of Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating for the company in a report on Thursday, June 6th. Jefferies Financial Group reduced their target price on shares of Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating for the company in a report on Thursday, April 4th. UBS Group cut their price objective on shares of Lululemon Athletica from $475.00 to $385.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. The Goldman Sachs Group cut their price objective on shares of Lululemon Athletica from $521.00 to $463.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Evercore ISI cut their price objective on shares of Lululemon Athletica from $515.00 to $400.00 in a report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $433.06.

Insider Activity at Lululemon Athletica

In other news, Director Martha A. M. Morfitt acquired 700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.